The In’s and Out’s of Compensation for Brokers

Brokerage organization structures and compensation plans are
constantly evolving to meet changing business demands, variations in economic
cycles, and company growth demands. From cradle to grave to functionally
separate roles, there are many ways to organize a brokerage for growth, and
many different compensation options that go with the different
structures. This 3 part seminar will take you through some of the more
common organization structures and compensation alternatives in use by today’s
top brokers.

Day 1: Organization Structures

We will look at different organization structure options,
from cradle to grave to pods to discrete functions, and consider under what
circumstances each option is most appropriate and how one might evolve from one
structure to another.

Day 2: Compensation 101

Understanding compensation terminology and the methods used
to develop incentive plans (and salary structures) is a critical first step to
managing your compensation plans and their associated costs. During
today’s session we will review compensation basics and the steps you MUST go
through when setting up or revising an incentive compensation plan.
Skipping these basics and diving right into detailed design is a sure fire
recipe for disaster.

Day 3: Detailed Design Options

From commissions to goal-based incentives and matrices,
banks, bounties, KPIs and MBOs and everything in between, there are literally
thousands of different ways to calculate incentive pay. This session will
go through some of the options most commonly used by top performing brokers and
talk about how you can integrate some of the additional choices into your incentive
plan to make sure you are getting the balanced focus you need for long-term
success.